This video of the incident on YouTube has drawn more than 2.6 million people eager to watch Andy House, an auto dealer in Lufkin, Texas, drive the $1 million French-built Bugatti Veyron — one of only 300 ever made — into a lagoon in LaMarque, near Galveston, in November 2009:

A passing motorist shot video of the $1 million supercar plunging into the swamp. (Warning Offensive language in the commentary.)

Since then, the insurance company, Philadelphia Indemnity of Bala Cynwyd, Pa., has sued, claiming insurance fraud, and the federal magistrate's judge hearing the suit has decided he's not qualified to sort out the "quizzical factual circumstances" in the bizarre case.

The insurance company claims House borrowed $1 million from a friend to buy the car and then bought insurance on it as a collector's vehicle, valuing it at more than $2 million. It says he drove it into the swamp to collect the insurance, which was supposed to go to the friend who lent him the purchase money.

House says he swerved off the road to avoid hitting a pelican, but the insurance company says there's no pelican in the video. Plus, it says it went to the scene and found no skid marks, and it further alleges that House "left the vehicle running for over fifteen minutes while it was submerged until it died on its own causing unnecessary damage to the vehicle's engine."